OPERATIONAL EXCELLENCE
Senior Living Impact: The Economic Effects of Senior Living
A
s industry professionals, we know senior living has an enormous impact far-reaching outside of a
community—from local businesses to chari- table organizations to academic institutions, and beyond. The existence of a senior living community in your neighborhood, in your region, and in your state is a catalyst for business growth and social benefits. To provide further analysis on this level
of impact, Argentum has partnered with Tripp Umbach, a nationally recognized consulting firm that specializes in economic impact analyses for nonprofit organizations. Their research, through key stakeholder
interviews, direct data collection, historical surveys from a proprietary database, and public government sources, allows us to quantify the senior living industry’s current economic, employment, and tax revenue impacts nationally, as well as each of the 50 states and the District of Columbia. We are also able to articulate various social and community benefits that result from the industry. At the 2019 Argentum Senior Living Con-
ference in San Antonio, we will officially unveil this new data under the name Senior Living Impact. By visiting
seniorlivingimpact.org, you will be able to see detailed data for a vari-
TOP 15 STATES FOR ECONOMIC IMPACT
STATE
California Florida
New York Texas
Wisconsin Michigan
North Carolina Washington Oregon
Pennsylvania Massachusetts Illinois
Virginia Georgia Ohio
US TOTAL
TOTAL IMPACT $26,528,259,452 $14,517,865,089 $10,062,294,536 $8,889,046,669 $8,657,368,186 $7,715,103,602 $7,548,932,700 $7,410,212,940 $7,225,991,992 $6,264,110,672 $6,048,863,088 $5,910,792,018 $5,171,520,346 $5,082,107,499 $4,860,294,703
$246,919,544,129 48 SENIOR LIVING EXECUTIVE MARCH/APRIL 2019 STATE
California Florida
Wisconsin Texas
New York
North Carolina Michigan Oregon
Washington Pennsylvania Illinois
Georgia Virginia Ohio
Arizona NATIONAL
ety of impact areas including total economic impact, total employment impact, total gov- ernment revenue impact, and social respon- sibility benefits. You can use this resource to review the impact in your state and the states in which your company operates, and compare it to the impact at a national level. As we move into additional phases of the
study, we will be sharing updates as new data becomes available. Here, you will see some top-level state data:
TOP 15 STATES FOR EMPLOYMENT IMPACT
TOTAL IMPACT 176,857 111,140 67,833 66,786 63,889 59,176 58,661 57,632 51,641
44,385 40,661 38,644 37,650 36,897 35,494
1,683,477
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